The food manufacturer plans to shutter up to three factories and could lay off some 950 people in New York, sources tell Crain's, as the company broadens a cost-cutting effort that aims to shave $1.5 billion in spending by 2017.

The Chicago Bears will be giving up their south parking lot to the planned Lucas Museum of Narrative Art, but the city is making it worth their while by designating a series of specific new projects the team can sell to sponsors. Crain's Danny Ecker has more.

The Chicago-based transportation management services company is relocating more than 550 jobs to the city next year after recently acquiring Skokie-based Command Transportation. The Chicago Tribune reports.

An estimated 35 million Americans are hearing-impaired, yet less than a third of them use a hearing aid because of the cost. Here's a made-in-the-Midwest model that's more affordable. Read Crain's Innovators profile of Chicago-based MDHearingAid.

Former Covidien CEO Jose Almeida will become chairman and CEO of Baxter International on Jan. 1, replacing retiring CEO Robert Parkinson Jr., who has led the Deerfield-based medical products maker since 2004. More from Crain's.

Clearly eager to avoid repeating the debacle of the decadelong Air Force tanker-procurement process—when a Boeing protest eventually reversed the original award to Airbus—the Pentagon insists it built in independent oversight when deciding to award an $80 billion new bomber contract to Northrop Grumman. More from the Seattle Times.

Some of the biggest computerized-trading firms are facing obstacles as they try to move into interest-rate swaps, a $381 trillion market that has yet to be dominated by automated buying and selling. One firm that's already paving the way for other market makers: Chicago-based Citadel, according to Bloomberg.

It's been the Skokie not-so-Swift: The Tribune reports the CTA's Yellow Line is set to finally resume service a couple of hours before sunrise tomorrow after a 5 1/2-month shutdown triggered by a construction misstep.